Procedure To Recover Dues From Housing Society Maintenance Bill Defaulters In current situtation running a society smoothly depends on how much cash reserves the society has in its bank. Few socitities doesn’t feel that much heat as members are cooperative and paying maintenance bills on time,check .Regular payment from members makes easier to run societyRead more

Sinking Fund Housing Society – Why Society Need It? It is risky to continue occupation of a building which has run its life. A provision has been made in the byelaws, enabling a co-operative housing society to collect contributions towards a sinking fund from members at a fixed rate per month. The rate fixed underRead more

MODEL BYE – LAWS OF COOPERATIVE HOUSING SOCIETY (a) The name of the society shall be……………………………….. Name of the Society (b) The society shall follow the procedure laid down under Section 15 of the Act and Rule 14 of the Rules for the change of its name. Procedure for changing the name. (c) The societyRead more

Income Tax On Housing Society The general perception of the Managing Committee of a cooperative housing society is that the income generated by the society is not chargeable to tax and therefore do not bother to file Annual Tax Return. This is a wrong perception since though certain types of income of cooperative housing societyRead more

TDS for Housing Society On registration of housing society, the society gets the status of legal entity. Under the Income Tax Act 1961, a Cooperative Housing Society is taxable entity. It is mandatory for any legal entities to file TDS return and Income tax returns thus it is also obligatory to all housing societies toRead more